New Fortress Energy (NFE) Inc. and Apollo have formed a joint venture operating 11 LNG vessels. The JV, Energos Infrastructure, is owned 80% by Apollo-managed funds and 20% by NFE.
The 11-vessel portfolio consists of six floating storage and regasification units (FSRU), two LNG carriers, and three floating storage units (FSU). As part of the transaction, NFE has agreed to charter 10 of the vessels for a period of up to 20 years. These charters have commenced immediately or will begin upon expiration of existing third-party charter agreements.
The total implied enterprise valuation of Energos is about $2 billion based on the JV transaction.
Energos Infrastructure will be based in Stamford, Conn.
NFE last month awarded Fluor Corp. a contract for engineering, procurement, and fabrication management of a 1.4-million tonne/year modular LNG plant (OGJ Online, July 18, 2022).
